No contempt made out against us: Sahara to SC

“No case of contempt is made out against them as they have complied with its directions on the issue of supplying documents to Sebi and has started refunding Rs 24,000 crore to its investors,” said by the Sahara group and its promoter Subrata Roy to Supreme court here in New Delhi.

The Sahara group mentioned the matter before a bench headed by Justice K S Radhakrishnan and said they have filed affidavits relating to the contempt notice and need more time to file a response in relation to the application by the stock market regulator seeking civil arrest or detention of Roy and other directors.

According to the bench, “It will consider its plea on May 2. Sahara’s plea was mentioned by senior advocate Ram Jethmalani and advocate Keshav Mohan.”

Sahara and its promoters filed around 10 affidavits and two additional affidavits are likely to be filed soon.

The counsel said there was no case of wilful disobedience of the apex court order as the documents have been supplied to Sebi and on December 5, 2012, the issue of depositing money was also considered by the court.